Biogen Inc (NASDAQ:BIIB) – Leerink Swann dropped their Q1 2017 earnings per share (EPS) estimates for shares of Biogen in a note issued to investors on Thursday. Leerink Swann analyst G. Porges now expects that the firm will post earnings per share of $4.65 for the quarter, down from their prior forecast of $4.70. Leerink Swann currently has a “Market Perform” rating and a $300.00 target price on the stock. Leerink Swann also issued estimates for Biogen’s Q2 2017 earnings at $5.20 EPS, Q3 2017 earnings at $5.48 EPS, Q4 2017 earnings at $5.52 EPS, FY2017 earnings at $20.85 EPS, FY2018 earnings at $22.97 EPS, FY2019 earnings at $23.93 EPS and FY2021 earnings at $24.44 EPS.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $369.00 to $305.00 in a research note on Thursday, March 16th. Credit Suisse Group AG set a $314.00 target price on shares of Biogen and gave the company a “hold” rating in a research note on Tuesday, January 24th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $310.17 price target on the stock in a research note on Monday. BMO Capital Markets restated a “market perform” rating and set a $331.00 price target (up from $294.00) on shares of Biogen in a research note on Sunday, December 4th. Finally, Cantor Fitzgerald restated a “hold” rating on shares of Biogen in a research note on Friday, January 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $327.74.

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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Shares of Biogen (NASDAQ:BIIB) opened at 274.80 on Monday. The firm has a 50-day moving average of $283.74 and a 200-day moving average of $293.74. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The firm has a market cap of $59.34 billion, a price-to-earnings ratio of 16.23 and a beta of 0.72.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.96 by $0.08. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business posted $4.50 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis.

In related news, Director Robert W. Pangia sold 5,450 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $295.39, for a total transaction of $1,609,875.50. Following the sale, the director now owns 22,078 shares of the company’s stock, valued at approximately $6,521,620.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul J. Clancy sold 9,891 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $291.55, for a total transaction of $2,883,721.05. Following the sale, the vice president now directly owns 20,705 shares in the company, valued at approximately $6,036,542.75. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BIIB. Capital Analysts LLC raised its stake in Biogen by 1.4% in the fourth quarter. Capital Analysts LLC now owns 423 shares of the biotechnology company’s stock worth $120,000 after buying an additional 6 shares during the period. Bienville Capital Management LLC raised its stake in Biogen by 0.7% in the fourth quarter. Bienville Capital Management LLC now owns 861 shares of the biotechnology company’s stock worth $244,000 after buying an additional 6 shares during the period. Reilly Financial Advisors LLC raised its stake in Biogen by 0.9% in the third quarter. Reilly Financial Advisors LLC now owns 915 shares of the biotechnology company’s stock worth $286,000 after buying an additional 8 shares during the period. Intrust Bank NA raised its stake in Biogen by 0.5% in the third quarter. Intrust Bank NA now owns 1,794 shares of the biotechnology company’s stock worth $562,000 after buying an additional 9 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in Biogen by 3.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 408 shares of the biotechnology company’s stock worth $116,000 after buying an additional 12 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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